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Loan Modification

: Mortgage Lender Implode-o-Meter

Are Foreclosures Getting Under Control: Is It A Fantasy

By Implode-Explode Heavy Industries

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"Foreclosures are down for seven straight months on a year-over-year basis, but this is more likely a result of slowed or suspended foreclosure processes because of the robo-signing crisis than the result of improving economic conditions. The foreclosure mediation program has been successful in reaching an agreement about 75% of the time, in 6,086 of 8,080 cases that went to mediation. As of yet there are no figures that show how many of the modified loans go back into foreclosure."

Full post as published by Mortgage Lender Implode-o-Meter on March 23, 2011 (boomark / email).

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